The chemical giant EI DuPont de Nemours & Company (DD) has sued USA Performance Technology Inc. (USA PTI), Performance Group (USA) Inc. and two individuals for misappropriating its trade secret and other confidential information with regard to its Titanium Technologies business. The company has filed a suit in the U.S. Federal Court for the Northern District of California.
The company remains committed to safeguarding its information, particularly in the best interests of its stakeholders. DuPont is thus leaving no stone unturned to ensure that its information is not leaked to outsiders and is working with law enforcement authorities regarding this matter.
The lawsuit requires the defendants to return all the misappropriated trade secret information and prohibits the use of its proprietary information. The company has also asked all defendants to compensate the damage by bearing the costs involved.
Titanium oxide is a white pigment commonly used in coatings, plastics, paper and a variety of other applications. DuPont is the world’s largest manufacturer of Titanium Oxide.
DuPont is a science-based products and services company, ranking sixth in crop protection chemicals and second in seeds. The company continues to execute its strategy of enhancing its offshore reach, expanding its presence in newer chemical technologies and shoring up agricultural operations. It currently operates in seven segments and its Performance Chemicals segment contains the Titanium Technologies operations.
DuPont announced that it is exploring the possibilities of evaluating a significant expansion of an existing titanium dioxide site to meet the growing demand. It was only in December last year that DuPont introduced high performance titanium dioxide.
The New DuPont Ti-Pure R-796+ titanium dioxide (TiO2) pigment maximizes process flexibility and provides superior performance across a variety of decorative paper types and paper making processes. Ti-Pure R-796+ delivers a highly desirable combination of opacity, light stability, and high brightness together with consistent quality.
Ford Motor Co. (F) is one of DuPont’s biggest Titanium dioxide customers.
DuPont faces stiff competition from The Dow Chemical Company (DOW) and Ashland Inc.
Currently, DuPont has a short-term (1 to 3 months) Zacks #3 Rank (Hold) and a long-term Outperform recommendation.
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